Dynamic Technology Lab Private Ltd Lowers Stock Position in CONMED Co. (NYSE:CNMD)

Dynamic Technology Lab Private Ltd trimmed its holdings in shares of CONMED Co. (NYSE:CNMD) by 2.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,550 shares of the company’s stock after selling 245 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in CONMED were worth $615,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. 1620 Investment Advisors Inc. purchased a new position in CONMED in the second quarter worth $39,000. Innealta Capital LLC purchased a new position in shares of CONMED in the 2nd quarter valued at about $41,000. Hilltop National Bank lifted its stake in shares of CONMED by 31.0% in the second quarter. Hilltop National Bank now owns 825 shares of the company’s stock valued at $57,000 after purchasing an additional 195 shares during the period. CWM LLC boosted its holdings in CONMED by 224.7% during the second quarter. CWM LLC now owns 919 shares of the company’s stock worth $64,000 after buying an additional 636 shares in the last quarter. Finally, nVerses Capital LLC grew its position in CONMED by 566.7% during the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $144,000 after buying an additional 1,700 shares during the period.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Piper Sandler decreased their price target on CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Needham & Company LLC reissued a “buy” rating and issued a $97.00 target price on shares of CONMED in a report on Thursday, October 31st. StockNews.com downgraded CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Wells Fargo & Company lowered their price objective on shares of CONMED from $77.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Finally, Stifel Nicolaus cut their target price on shares of CONMED from $88.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, CONMED has an average rating of “Moderate Buy” and an average target price of $79.80.

CONMED Stock Down 1.0 %

CNMD opened at $73.16 on Friday. The business’s fifty day simple moving average is $69.51 and its 200 day simple moving average is $70.52. CONMED Co. has a 52 week low of $61.05 and a 52 week high of $117.27. The firm has a market cap of $2.26 billion, a P/E ratio of 17.38, a PEG ratio of 1.00 and a beta of 1.45. The company has a quick ratio of 1.06, a current ratio of 2.27 and a debt-to-equity ratio of 1.01.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The business had revenue of $316.70 million during the quarter, compared to the consensus estimate of $318.46 million. CONMED had a net margin of 10.23% and a return on equity of 13.84%. As a group, equities research analysts anticipate that CONMED Co. will post 4.03 EPS for the current fiscal year.

CONMED Profile

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.